Sweden has taken a number of steps towards creating its own central bank digital currency, or CBDC, called e-krona. Sveriges Riksbank, the country’s central bank, is now trying to experiment with the asset using the unfashionable side.
“The e-krone pilot is thus shifting from simple participant modeling to collaboration with external participants in a test environment,” Riksbank said in a statement on Friday. The experience will include Riksbank and Handelsbanken, a retail banking network based in Sweden.
In January, Riksbank announced that its experimental e-krona concept uses Corda technology, a Distributed General Ledger Technology, or DLT, a solution from R3. Sweden has been on the CBDC track for over a year. April came with news that the country had completed the first part of its CBD pilot project.
As the Riksbank statement from Reuters notes, Handelsbanken notes: “For Handelsbanken, the project means an opportunity to participate in what is undoubtedly one of the first digital money issued by a central bank in the world to be deployed.”
Commercial CBD has been a hot topic in 2020, and countries will continue their efforts in 2021. China has largely taken the lead in terms of CBD ambitions, although the Bahamas took off last fall with the launch of its first central bank digital currency Its currency was called a sand dollar. . Recently, Lyle Brainard, Governor of the Federal Reserve, the US Federal Reserve, expressed the importance of the central bank digital currency in terms of the country’s standing as the world’s reserve currency.